Instruction 5-2 a Certain Type of New Business Succeeds 60% of the of the Time.Suppose

question 84

Short Answer

Instruction 5-2
A certain type of new business succeeds 60% of the time.Suppose that 3 such businesses open (where they do not compete with each other,so it is reasonable to believe that their relative successes would be independent).
-Referring to Instruction 5-2,the probability that at least 1 business succeeds is ________.

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Definitions:

Net Pay

The amount of money an employee receives after deductions such as taxes and retirement fund contributions are taken out of their gross salary.

FICA Tax Rate

The combined rate for Social Security and Medicare taxes that both employers and employees pay, based on a percentage of employees' wages.

Unemployment Taxes

Taxes that employers are required to pay to the government, which are used to fund unemployment benefits for workers who have lost their jobs.

Overtime Pay

Additional compensation paid to employees for hours worked beyond the standard workweek.